How does virtue ethics reconcile the conflict between self-interest and altruism?

Abstract

Today, capitalism is in question, as the 2013 Academy of Management conference theme claimed. Many view business skeptically because they see capitalism as incompatible with ethics. The same problem pervades the business ethics education classroom. Business ethics can be taught in a way that demonstrates that economics and ethics are compatible and are integrated most directly in the function of management. This essay provides an overview of Ayn Rand’s philosophy as an alternative to current conventions but largely consistent with approaches such as virtue ethics and conscious capitalism. The essay concludes with challenges to teaching Objectivism in business schools.

Journal Information

The Journal of Ayn Rand Studies is a nonpartisan journal devoted to the study of Ayn Rand and her times. It is the official journal of The Journal of Ayn Rand Studies Foundation. The journal is not aligned with any advocacy group, institute, or person. It welcomes papers from a wide array of disciplines, including: aesthetics, anthropology, ethics, feminism, history, political theory, psychology, and sociology. The journal aims to foster scholarly dialogue through a respectful exchange of ideas and has become a unique place that has welcomed those working from diverse interpretive and critical perspectives.

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Utilitarianism is an ethical theory that determines right from wrong by focusing on outcomes. It is a form of consequentialism.

Utilitarianism holds that the most ethical choice is the one that will produce the greatest good for the greatest number. It is the only moral framework that can be used to justify military force or war. It is also the most common approach to moral reasoning used in business because of the way in which it accounts for costs and benefits.

However, because we cannot predict the future, it’s difficult to know with certainty whether the consequences of our actions will be good or bad. This is one of the limitations of utilitarianism.

Utilitarianism also has trouble accounting for values such as justice and individual rights.  For example, assume a hospital has four people whose lives depend upon receiving organ transplants: a heart, lungs, a kidney, and a liver. If a healthy person wanders into the hospital, his organs could be harvested to save four lives at the expense of one life. This would arguably produce the greatest good for the greatest number. But few would consider it an acceptable course of action, let alone the most ethical one.

So, although utilitarianism is arguably the most reason-based approach to determining right and wrong, it has obvious limitations.

Altruism means acting in the best interest of others rather than in one’s own self-interest. Some people believe altruism constitutes the essence of morality.

Although we often act selfishly, we also seem to be wired to cooperate with others. For example, studies show that when people look for mates, they tend to look for kindness more than any other quality.

People’s moral judgments are often driven by emotion. And empathy for others seems to encourage altruism. Another emotion, called “elevation,” appears to inspire altruistic behavior, too. We feel elevation when we see another person act virtuously, such as by helping someone in need.

Altruism also builds social connections. For example, studies show that people who are altruistic tend to be happier, to be healthier, and to live longer.

So, while altruism leads us to do what’s best for others, it also makes us feel good in the process.

How does virtue ethics reconcile the conflict between self

How does virtue ethics reconcile the conflict between self-interest and altruism? Character and action have a reciprocal relationship. Arrange the steps in the decision-making process involved in the ethical resolution of a conflict in the order of their implementation.

What does virtue ethics focus on?

Virtue ethics, by contrast, focuses on the development of the character of the individual who must confront ethical dilemmas. Virtue ethics recognizes that resolution of difficult problems depends, above all, on the character (that is, on the virtues) of the people making decisions.

What is virtue ethics in simple words?

Virtue ethics is arguably the oldest ethical theory in the world, with origins in Ancient Greece. It defines good actions as ones that display embody virtuous character traits, like courage, loyalty, or wisdom. A virtue itself is a disposition to act, think and feel in certain ways.

What are the problems with virtue ethics?

The alleged problem with virtue ethics is that it fails to appreciate the perspectivai, theory ladenness, and intractability of dispute, for it is commonly assumed that in virtue ethics a virtuous agent is both the determinant of right action and the repository of sound reasoning about which actions are right.